200 more Santos jobs to go

Santos pipelaying workers in the Cooper Basin

Santos pipelaying workers in the Cooper Basin

Santos has cut 200 jobs from its eastern Australian businesses, according to a company statement.

The company cited the low oil price environment as a key reason for the additional head-count reduction, which has been touted as part of its continued effort to reduce overheads across its operations and maximise shareholder value.

Of the 200 jobs set to be removed, most are expected to come from the company’s Adelaide-based offices.

According to a company statement, the job cuts will save the company about $100 million over the next three years at its Cooper Basin activities.

“The job reductions are a part of a broader restructure of the Eastern Australia business to make it a leaner, more agile organisation delivering lower cost oil and gas from the Cooper Basin,” the statement said.

This latest round of job cuts come after the company announced the removal of 565 positions, a 55 per cent reduction in capital expenditure and an 11 per cent reduction in unit production costs on 21 August 2015.

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